Cert petition filed in Roe v. Wade case

As noted in this previous posts, Norma McCorvey of Dallas, the original plaintiff in the seminal anti-abortion case Roe v. Wade, has been attempting over the past couple of years to persuade the federal courts to allow her to challenge the original judgment in that case under Fed. R. Civ. P. 60(b). In this opinion from last year, the Fifth Circuit Court of Appeals upheld the District Court’s rejection of Ms. McCorvey’s Rule 60(b) motion on procedural grounds and dismissed the case, although Fifth Circuit Judge Edith Jonesconcurring opinion did address some of the substantive issues pertaining to the underlying case.
Now, as noted in this AP article, Ms. McCorvey has asked the U.S. Supreme Court to reverse the lower courts and direct the District Court to grant her Rule 60(b) motion. Here is a link to the cert petition, courtesy of the excellent SCOTUSblog.
Due to the procedural nature of the challenge to Roe v. Wade, my sense is that the cert petition does not have much of a chance of success at the Supreme Court. Nevertheless, stay tuned. Stranger things have happened.

The Martha Redemption?

In Frank Darabont‘s wonderful movie, The Shawshank Redemption (1994), unjustly imprisoned Andy Dufresne ends up making some pretty decent money while in prison.
In an ironic twist in regard to another unjust imprisonment, this NY Times article reports that the value of Martha Stewart‘s stake in Martha Stewart Living Omnimedia has nearly tripled — from about $320 million to around $830 million — since her conviction last year.
Markets are sweet, aren’t they?

Gadzooks is liquidating

Carrollton-based Gadzooks, the teen fashion retailer that has been wandering aimlessly in chapter 11 since February of last year, announced yesterday that it would sell its assets to the highest bidder and give up on its dream of reorganizing and emerging from chapter 11.
As in the recent case of sandwich franchisor, Schlotzky’s, Gadzooks’ liquidation will generate a pittance in comparison to the company’s debt, which means that unsecured creditors will likely receive no dividend on their claims against the company.
The business risk of highly-leveraged and specialized companies such as Gadzooks is perhaps best articulated by the reaction of one of my two teenage daughters, both of whom are both experts in the area of purchasing from teen fashion retailers. Although dismayed last year when Gadzooks went into the tank, when I mentioned the latest news about Gadzooks’ final demise, one of my girls turned to me and observed with no remorse:

“Oh, yeah. I remember that store. They were toast a long time ago.”

Except Southwest, airlines continue to reel

Several major airlines reported quarterly earnings yesterday, and the reports continue to verify what everyone already knows — the legacy airline business model is broken and in need of such serious reorganization that it is questionable whether many can or should survive.
While American Airlines parent AMR Corp. and Northwest Airlines reported another round of large fourth-quarter losses, even industry profit leader — Dallas-based Southwest Airlines — reported a 15% profit decline. That Southwest’s profits are declining underscores the grim outlook for the entire industry — of the 10 largest U.S. carriers, only Southwest is expected to report a fourth-quarter profit.
Houston-based Continental Airlines, Inc. reported a fourth quarter loss of $206 million. Continental is implementing a plan to generate $1.1 billion in savings and expand its more profitable international flights. The carrier is also negotiating $500 million in worker wage and benefit concessions that it needs to have in place prior to the end of the first quarter of 2005 to help defray further losses.
All airlines carriers are being hammered by an unusual combination of high fuel prices, fare competition and growing seat capacity in the U.S. market. Had it not been for fuel hedges that saved Southwest $174 million in the quarter, it also would have reported a quarterly loss.
Meanwhile, the other discount airlines that have generated the brutal low-fare competition are also being stung by declining fares as quarterly losses are expected from America West Holdings Corp., JetBlue Airways, AirTran Holdings Inc. and Frontier Airlines. THe primary reason that the other discounters are not profitable is that they do not have the liquidity of Southwest to hedge fuel costs.
Southwest’s quarterly profit fell to $56 million (or seven cents a share) from $66 million last year. Revenue totaled $1.66 billion, which was an increase of about 9% compared to the fourth quarter of 2003. Southwest’s unit costs in the quarter fell 1.3%, or 4.5% excluding fuel.
With several airlines wallowing in chapter 11 cases without clear reorganization plans, is 2005 the year that the needed shakeout in the airline industry will take place?

Can the Republicans lead?

In this brilliant op-ed today, Wall Street Journal ($) editorial page editor Paul Gigot throws down the gauntlet and challenges the Republican Party to elevate substance over form and show that the party can lead America. In a stinging rebuke of the party’s leadership over the past generation, Mr. Gigot lays it on the line for the Republicans:

Whatever one thinks of its policies, the Democratic Party surely made a difference during its 20th-century heyday. Set aside its last, corrupted years in power. When liberalism was ascendant, from the 1930s through the 1970s, Democrats permanently altered the face of government.
They ended poverty for the elderly with cross-generational entitlement programs, broke Jim Crow’s hold in the South with civil-rights laws, built the alphabet soup of regulatory agencies that bedevil American business every day, turned our courts into quasi-legislative bodies, and planted the seeds of government-run health care that continue to grow today. As the party of government, they built institutions and processes that have consistently expanded its scope.
What, in the decade since they’ve retaken the House, have Republicans done that is consequential in the same way? If the GOP majorities vanished tomorrow, what couldn’t Democrats easily repeal? I’ve asked the latter question of numerous Republicans in recent days, and the only confident answer I get is “welfare reform.” By requiring in 1996 that the poor enter the world of work, Republicans stopped the development of a permanent American underclass. Yet despite that historic success, it is striking that they still haven’t had the nerve or clout to pass an extension of even that reform through the Senate. . .
In fact, it is depressing to consider how much of what Republicans wanted to do under a Democratic president in the ’90s they have abandoned now that they control both sides of Pennsylvania Avenue. The regulatory reform requiring “cost-benefit” analysis that came within a vote of passing the Senate in 1995 has never returned. The excellent Medicaid reform vetoed by Bill Clinton has also gone nowhere, despite pleas from many governors to revive it. The Freedom to Farm Act was gutted.
Even the congressional budget process that Democrats designed to make spending easier remains entirely unchanged. Fourteen years ago, Congressman Chris Cox was able to win upward of 180 votes for such budget changes; last year he got 88, and he had to buck the rest of the GOP leadership to get even those.
Some of this can be blamed, first, on having a Democrat in the White House, and later having only small majorities on Capitol Hill, especially in the Senate. But not anymore. After November’s victory, Republicans don’t have any more excuses.

Read the entire piece. Mr. Gigot’s point is a variation on the theme that Milton Friedman touched on awhile back:

To summarize: After World War II, opinion was socialist while practice was free market; currently, opinion is free market while practice is heavily socialist. We have largely won the battle of ideas (though no such battle is ever won permanently); we have succeeded in stalling the progress of socialism, but we have not succeeded in reversing its course. We are still far from bringing practice into conformity with opinion.

With a Republican president and solid majorities in both houses of Congress, the Republicans no longer have any excuses for failing to address America’s pressing problems in such areas as health care finance, tax policy, and intelligence reform, to name just three.
The Republicans have exploited the Democratic Party’s obsolescence in these areas to seize the reins of leadership. Now, it is time for the Republicans to lead or risk, as Mr. Gigot puts it, becoming “as evanescent as the Whigs.”